Outlet boxes are installed typically in drywall or other sheet material, at the time of manufacturing, construction or for remodeling purposes. While determining a cut-out position in drywall for an outlet box is a simple matter during new construction owing to the visibility of the studs and the outlet box itself which is typically affixed to a stud, a number of problems present themselves when installing junction boxes in a remodeling scenarios. While drywall, prior to mounting on studs, can be marked and cut with a saw or utility knife from both sides, once mounted to studs, installation of an outlet box is limited to cutting through the outer facing surface of the drywall which increases the likelihood of a misplaced cut and an irregular aperture that must be repaired before or after insertion of the junction box, causing time loss for a contractor manufacturer or homeowner. Several devices have been described for cutting rectangular holes in drywall in order to mount electrical junction boxes. U.S. Pat. No. 5,797,189 to Gilbert describes a tool for cutting rectangular holes in drywall for new construction that uses a template with guide pins that are inserted into the pre-threaded apertures of electrical outlets and junction boxes in order to properly position and guide the cutting tool. U.S. Pat. No. 5,048,190 to Aurness et al., describes a tool that is chucked to a hand drill for cutting rectangular holes in drywall. While the foregoing devices are no doubt useful for their intended use, multi-bladed configuration introduces complexity and when mounted to a drill, and requires that the user manipulate a device having considerable distance between the power switch or handhold and the cutting edge which reduces control over the material removal process. It would be desirable to provide a motorized means of cutting holes for the installation of electrical outlet and junction boxes that would remove a single portion of material defining an aperture for an outlet box, junction box or other insert. It would also be desirable to produce an aperture possessing clean corners that require no additional modification of the aperture; for example, additional sawing or sanding, which is required with past hole cutting systems. Moreover, it would be desirable for the foregoing tool to be shaped and sized for easy manipulation and control over the cut.